Post From Dinar Updates
Chat Room Excerpts & Highlights
Dinar Updates Monday PM Chat 9-26-16 Part 2 of 3
rcookie says():policy «international Monetary»
some shows fear of these trends, and under the pretext undergo Alysaasat the international Monetary Fund, and because the Iraqi economy rentier nature, these fears turn out to be the practices of the Iraqi government has put in front of rejected this some problems, and therefore disable a lot of economic promises that have been agreed upon on these loans, and perhaps Alemradjahalojerh preparedness credit between Iraq and the international Monetary Fund agreement in Amman pointed to this risk on the part of , and to the importance of framing, all the way for approval of the Fund 's terms and adhered to.
referents problem debts originally linked to the existence of widespread corruption in state institutions, and the large Bagr of public money, and to the confusion of banking policies, and to other aspects related to the political with data mysterious, and the nature of the threats and challenges faced by Iraq, which has devoted an increasing spenders security side,
compared to reduce the allocations pertaining to economic recovery programs Iraqi in various investment fields, what makes the commitment to the demands of the international Monetary Fund over Napoleon represented realism, but the possibility of confrontation (forced) with corruption and the corrupt, and according to the monitoring, control and audit files mechanism.
also, this realism is also to preserve the employees and pensioners, and related activities perpetuation of public life citizens, compared Aadhalnzer many of the economic policies that lacks the realism, and exercises its authority as if the Iraqi wealth is depleted, and that limitless spending Profile,
which is referred to by the MP Magda Tamimi , a member of the economic Committee (b spend three million and 799 thousand dollars to hire a private aircraft, during the last quarter of 2014 and over the past year in 2015, as well as the expenditure of funds and other money on Aivadat officials, in spite of the serious consequences of falling oil prices and the war against al «Daesh» terrorist.)
this information confirms the size of expenditures is necessary, and in the work contexts many of them, Maittalb face resolute, not only committed to the policies of the international Monetary Fund, but to restructure the Iraqi economy and Moisnath and Anfaqath, and to ensure the reduction of the budget deficit, which is referred to during the discussion of the budget year 2016- member of the Finance Committee MP Hussam punitive ,
saying: (The 2016 budget deficit will be larger than the budget 2015 deficit », noting that,» budget in 2016 which put deficit to 29 trillion dinars , or the equivalent of $ 25 billion, representing 25 percent of the total budget).
rcookie says():limbering economic
Prime Minister claim to be more decisive in dealing with corruption and corrupt files, it runs from the dangerous Maewagha Iraq's economic problems, and complications specific to those files and the multiplicity of their references, which relates to issues concerning waste, and money laundering,
and the imbalance in the control procedures, and keep track of exchange and other mechanisms, this Maittalb put decisive action , concerning the procedures for administrative and limbering Alanvaqa, and measures concerning the control and supervision, and a review of the general budget.
The seriousness of the propensity for loans from countries and banking authorities are in the economy put in front of data impose conditions on Iraq, which may make Iraq Amadzera to continue lending policy, distancing from taking (forced) to look for other opportunities to maximize the national wealth, and not total reliance on oil which is exposed to the fluctuation of prices, and the deterioration under the conflict and political factors tugging, or flooding the oil market affluence, a Maigll of demand relative about a lot of offers, which are adopted by some countries , a political measure against other countries ..
rcookie says():Iraq needs a unified vision of the government and banks
9/27/2016 0:00 BAGHDAD / Suha Shaykhli constitute one of the important pillars of the private banking sector in economic activity in all important countries varied activities, as is the main engines in a country like Iraq, especially in the critical period is going through, but the multiple reflections trends of financial distress influenced in the performance of banks and the economy both , despite the availability of human resources and advanced technology.
the attention of the banking expert , Abdul Rahman al - Sheikhli Speaking »Sabah» that the decline in global oil prices and financial pressures because of the war on «Daesh», along with the pressures of the international Monetary Fund and the World Bank and the commitments that dates back to the before 2003 have exacerbated the severity of financial distress.
he Shaykhli to that if these conditions persist , will lead to negative consequences such as the circulation of funds deficit in the banks would be reflected negatively on the funding and other economic activities, particularly in the areas of export domestic production and import, stressing that the indiscriminate import leads a waste of money in hard currency would be good to spend at home and replace them with local products.
and indicates Shaykhli that rentier economy requires speed up finding alternatives to diversify its budgetary resources which are reasonably increase tax rates so as not to put pressure on low - income people, as well as Note tariff customs because a lot of goods are exempt from fees and stop wastage and minimize financial and administrative corruption to develop the economy.
the difficulty of the task in front of the banking sector alone in drawing a road map to avoid the financial crisis , there is no common constants unified economic vision with the government, adding that the economy is still without identity Oomlameh, in addition to the financial and administrative corruption after the proceeds from the sale of oil cash blocs during 13 years there was no fixed budgets for the entry and exit of the money obtained was employed for the development of the productive sector , both public and private.
and between Shaykhli the role of modern technology in fact banking service and private in the areas of transportation and communications has contributed to the diversification of great services to customers , including automated banking deal in addition to the competencies and human resources has been active since 1993 as Iraq began working since then on the window of a free economy by opening banks civil.
He continued since that time and even now expanded the scope of work in the private banks and the need arose to post significant human cadres , mostly retired personnel who have experience and competence, but they lack the correct vision of the free economy , which the world is witnessing at the moment,
noting the difficulty that develop these themselves to be part of a free economy, and these staff can be advisers and not the executives, some of whom do not understand anything in dealing with the most advanced technology, even though he has good ideas in the banking and financial matters.
He stressed the need to be experienced now for young people and to take their role in the banking business, but he also, but the majority of banks are looking for practical experience rather than academic experience has We tried pushing young people in practical courses but fared a minor still,
however, some of whom responded to gain experience and some of them are now filled sections administration with the knowledge that their experience does not exceed five years , but the number is small does not fit the actual need for it we are forced sometimes to hiring staff veterans and retirees of them stressing the need to develop human skills match the actual requirements.
rcookie says():Public industries able to cover the needs of the market
9/27/2016 0:00 BAGHDAD / Mustafa Hashimi
needs Iraq 's economy to take more effective steps to support the national product, especially the production of the Ministry of Industry and Minerals being owned companies and factories need to be encouraged to increase production , including limiting the imports unnecessary , which can be produced in these factories.
This was confirmed by the economic academic Dr. Majid Baidhani in his "morning", referring to the need to pay national production further support through the open space in front of the reduction of the import , which has greatly affected the national Besnaatna.
It owns the Ministry of Industry and minerals , 75 public companies , including 276 factories specialized electrical and food and pharmaceutical areas and fertilizers as well as industries light and heavy falling in huge vehicles industry.
He Baidhani to the existence of a trend to support the ministry 's products or through participation and investment and benefit from the expertise and human energies owned by those companies and government factories that contract, stressing the need to assign support legislation and laws should be activated to achieve economic desired end.
He Baidhani that the national industrial staffs are able to meet the needs of the markets of its production to the advantage of its standard specifications.
for its part ur State company revealed one of the Ministry of Industry and minerals it is equipped with the private sector to 96 tons of clips of aluminum high - class than the importer.
He said the Director of Information Center and public relations of the Ministry Abdul Wahid Alwan Hamoud said the company 's production of sections of aluminum and other products saw a large turnout by the private sector.
he noted that the company launched a new production of wire Siemens scheduled measuring 4X2 in local markets and across the marketing position of the company.
he said: cadres technical and engineering at the company has been able for the first time from the wire Siemens scheduled manufacturing measuring 4X2 after the design templates and evidence within the international standards.
he said it was based on self - help, noting that after the trial run success produced a factory 10 km from the new Siemens wires that have undergone checkups control fine quality is then put in the local markets.
the technical staffs in ur public company managed earlier in the rehabilitation Makinte piston and tapes in the rolling mill extraordinary efforts and for a pittance and Stsihaman effectively to produce discs with multiple uses that have been contracted out to sectors public and private as he finished Associates of electric cables factory outstanding mechanical maintenance business process re - design and create mechanical piston Alhaadroleik for pressing copper - aluminum damage.
rcookie says():Vlkn rich know!
9/27/2016 0:00 Hussein Tgb between theory and treatments experts and those interested in swinging the national economy waiting to bail him out of the fact deteriorating experienced sectors of production and service.
The size of the imbalance suffered by a large economy and accumulated since decades without any interest and expanded the size of the economic shenanigans after 2003 , where the process productivity timid stopped before this date, which was arise here and there.
when calculating the gap between the economic reality of Iraq compared to neighboring countries , we find a significant difference, although the potential and size of the wealth in our country than all the countries in the region , without exception, where we have resources depleted and non - depleted , which is a source of great economic power is not available in most countries world.
Since that Iraq has this wealth , he did not exercise effective role economically in the international arena, as he is one of several countries have elements of production and the market at the same time , this new title could build a robust economy , when there are real visions for achieving this national goal ultimate.
the economy in dire need of national will work to restore economic routes to its senses and begin to identify the national economy and then take to the field work by the public and private sectors and to identify the correct paths to economic construction by providing able to attract investments healthy environment.
can not be achieve economic development of our laws window that intersect with each other and confuse any development work, which requires us to form a quick committees working to modify and refine laws during the period of information guarantees the rights of all shareholders developmental process to start after hard work of field
in cooperation with the global effort advanced and owner of the technology and capital to take actions projects in various sectors production and service departing from the great work that it takes the economy of the size of waiting for a real development opportunity to be an economic tiger VIII.
the requirements of the overall economic development are available on a wide range of natural resources and human resources young can be employed to achieve the goals, and takes the reality of the economy is the real draws national to build a multi - robust economy , resources for unimpaired crises and economic shocks.
jfd says to rcookie():If Iraq wanted to get their economy going strong producing products like Vietnam would they want to keep their currency low so items could be sold cheaply like Vietnam?
SRW says():Huh? I think Vietnam would revalue in a heartbeat!! What you talkin about!!
jfd says to rcookie():If their currency is too high then they cant sale their products cheaply.
BGG says to jfd():Not an accurate portrayal. Sorry.
jfd says():Thanks BGG
SRW says():Onward DU soldiers!! Dinar is the game and Rcookie is to Blame!! Who could ask for any better news than we have had all day!! IMO